It’s no secret that people overspend during the holidays, but Edward Jones has now proved it in their latest survey.

The financial services firm recently released a survey, which shows one-third of Canadians overspend on their holiday budget, and 22 per cent of the country regret their spending.

Lory Neumann, an Edward Jones financial expert, said Boxing Day sales often contribute the most to the post-Christmas debt.

“It’s the final lure that gets people and may cause the overspending,” explained Neumann. “To see things go on great discount, would cause the average individual to think twice that they’re maybe saving money, but it would cause them to overspend.”

Neumann notes that millenials are the most at-risk to over-spend, paying more on credit — that’s versus older generations, who foot the bill on debit.

The best way to avoid over-spending? Neumann suggests meeting with a financial adviser, before the season, to map out a holiday spending game plan.